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Coro Secures $100M in Series D Funding to Elevate Cybersecurity for SMEs

Introduction

In an era where digital threats loom larger than ever, cybersecurity has emerged as a critical shield, especially for small and medium-sized enterprises (SMEs) that often find themselves vulnerable. Recognizing the acute need for robust cybersecurity solutions tailored for these entities, Coro has made significant strides in fortifying SMEs against an array of cyber threats. A testament to its pioneering approach and potential for impact, Coro recently secured a monumental $100 million in Series D funding. This round was led by One Peak, with notable contributions from existing investors Energy Impact Partners and Balderton Capital, marking a significant vote of confidence in Coro’s mission and strategy.

Coro’s Mission and Growth

Founded with the mission to democratize cybersecurity, Coro has been at the forefront of delivering simplified, enterprise-grade cybersecurity solutions specifically designed for SMEs. In a landscape where cybersecurity solutions were either too complex or financially out of reach for smaller entities, Coro’s innovative platform has been a game-changer. By making advanced cybersecurity accessible and manageable, Coro empowers SMEs to protect their digital assets without the need for extensive IT teams or resources. Over the last 24 months, Coro has raised a total of $255 million, a clear indicator of the market’s belief in its vision and the company’s trajectory towards aggressive growth and market dominance.

The Importance of Cybersecurity for SMEs

SMEs today face a daunting array of cyber threats, from sophisticated phishing attacks to ransomware, making cybersecurity a top priority. However, the complexity and high costs associated with traditional cybersecurity solutions have left many SMEs exposed and vulnerable. Coro addresses this gap with its all-in-one cybersecurity platform, providing comprehensive coverage across endpoint protection, email and user protection, and network & cloud protection. By offering an affordable and automated solution, Coro enables SMEs to safeguard their operations against cyber threats, ensuring business continuity and the protection of sensitive data.

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Coro company logo

Series D Funding and Future Plans

The recent Series D funding round led by One Peak, alongside contributions from Energy Impact Partners and Balderton Capital, is not just a financial boost but a strategic enabler for Coro. This infusion of funds is earmarked for several key areas: product innovation, empowering channel partners, and accelerating global expansion. Coro plans to leverage this investment to further refine its cybersecurity solutions, ensuring they remain at the cutting edge of technology and meet the evolving needs of SMEs. Additionally, strengthening the channel partner program will enhance Coro’s reach and impact, facilitating broader access to its solutions. The focus on global expansion reflects Coro’s ambition to establish a worldwide footprint, bringing its revolutionary cybersecurity approach to SMEs across the globe.

This strategic investment underscores the confidence in Coro’s vision and its pivotal role in transforming cybersecurity for SMEs. With this backing, Coro is well-positioned to continue its trajectory of growth, innovation, and leadership in the cybersecurity domain.

Coro’s Platform and Offerings

Coro’s cybersecurity platform stands out for its unparalleled ease of use, automation capabilities, and comprehensive protection, catering specifically to the needs of SMEs. The platform offers a suite of security modules, including endpoint protection, email and user protection, and network & cloud protection, ensuring a holistic defense mechanism against a wide spectrum of cyber threats. One of the platform’s key strengths is its automation, which significantly reduces the burden on IT teams by proactively identifying and mitigating potential security threats without manual intervention.

In 2023, Coro expanded its offerings through the strategic acquisition of Privatise, a move that further enhanced its capabilities and solidified its position as a leader in the cybersecurity space. This acquisition, along with continuous product updates and expansions, underscores Coro’s commitment to innovation and its dedication to providing state-of-the-art security solutions that evolve in tandem with the threat landscape.

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Market Leadership and Recognition

Coro’s innovative approach and effective solutions have rapidly propelled it to a market leadership position within the cybersecurity sector for SMEs. The company has experienced remarkable growth, expanding its customer base across various industry verticals and achieving a record 3X year-over-year growth for the fifth consecutive year. This growth trajectory is a testament to Coro’s effectiveness in addressing the unique cybersecurity challenges faced by SMEs.

Coro’s achievements have not gone unnoticed, with the company receiving notable recognitions and awards that highlight its success and impact. Among these accolades are the inclusion in the inaugural Fortune Cyber 60 and the 2023 Deloitte Technology Fast 500, ranking Coro as one of the fastest-growing cybersecurity companies in North America.

Quotes from Leadership

Reflecting on the Series D funding round, Coro’s CEO, Guy Moskowitz, expressed, “Now that Coro is established as a cybersecurity powerhouse for the SME market, the next step on our journey is to offer this radical approach to as many organizations as possible.” David Klein, Co-founder and Managing Partner at One Peak, shared his enthusiasm, stating, “We are convinced that Coro has the right tech stack, a world-class management team, and unlimited potential to scale the business to the next level.” Rana Yared, General Partner at Balderton Capital, emphasized the critical role of cybersecurity in economic growth, remarking, “Providing protection and peace of mind to this segment of the market is critical to economic growth.”

Conclusion

The recent funding and continued growth of Coro signify a pivotal moment not just for the company but for the broader cybersecurity landscape, especially for SMEs. Coro’s journey and achievements highlight the critical importance of making advanced cybersecurity solutions accessible and manageable for businesses of all sizes. As cyber threats continue to evolve and become more sophisticated, Coro’s mission to democratize cybersecurity becomes increasingly vital. The company’s success and expansion serve as a beacon for the industry, demonstrating that with the right approach and solutions, it is possible to provide robust cybersecurity defenses that empower SMEs to thrive in the digital age securely.

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